KEONICS (Karnataka State Electronics Development Corporation Ltd) is actively exploring ways to monetize its underutilized land assets, particularly in emerging areas like Mangaluru and Hubballi-Dharwad. One of the significant projects under this initiative is the development of a new IT park in Mangaluru, which aims to capitalize on the city’s growing role as a hub for technology, startups, and entrepreneurship.
The proposed IT park, which will span around 4 lakh square feet, is part of KEONICS’ strategy to utilize its land holdings effectively, particularly in regions that have the potential for rapid growth in the tech sector. This project is expected to integrate modern infrastructure with skill development centers and a Center of Excellence, focusing on fostering innovation and providing high-quality workspace for tech companies.
KEONICS plans to execute the development under a Public-Private Partnership (PPP) model, reflecting its intention to attract private sector investment and expertise. This initiative is in line with the state government’s broader goals to enhance Karnataka’s tech ecosystem, spread economic development to regional centers, and ultimately achieve a $300 billion economy by promoting balanced growth across the state. KEONICS’ approach to monetizing its assets is seen as a proactive move to support the region’s emerging tech hubs while ensuring that it maximizes returns from its land holdings.
With the groundbreaking expected to take place in the next six months, this project could mark a significant step in transforming Mangaluru into a major player in Karnataka’s tech landscape.
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Author: IBC Global Times
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